1. Technical Field
The present invention relates generally to currency processing machines, and more specifically to a method for facing notes during high speed currency processing to ensure all notes of a given denomination are facing the same direction when bundled.
2. Description of Related Art
Automated, high-volume currency processing is a growing international industry affecting numerous aspects of the distribution, collection, and accounting of paper currency. Currency processing presents unique labor task issues that are intertwined with security considerations. Currency processing requires numerous individual tasks, for example: the collection of single notes by a cashier or bank teller, the accounting of individual commercial deposits or bank teller pay-in accounts, the assimilation and shipment of individual deposits or accounts to a central processing facility, the handling and accounting of a currency shipment after it arrives at a processing facility, and the processing of individual accounts through automated processing machines. Any step in the process that can be automated, thereby eliminating the need for a human labor task, saves both the labor requirements for processing currency and increases the security of the entire process. Security is increased when instituting automated processes by eliminating opportunities for theft, inadvertent loss, or mishandling of currency and increasing accounting accuracy.
A highly automated, high-volume processing system is essential to numerous levels of currency distribution and collection networks. Several designs of high-volume processing machines are available in the prior art and used by such varied interests as national central banks, independent currency transporting companies, currency printing facilities, and individual banks. In general, currency processing machines utilize a conveyer system which transports individual notes past a series of detectors. By way of example, a note may be passed through a series of electrical transducers designed to measure the note's width, length, and thickness. The next set of sensors could be optical sensors recording the note's color patterns or serial number. Detectors can likewise be used to detect specific magnetic or other physical characteristics of individual notes.
High volume currency processing machines typically pull individual notes from a stack of currency through a mechanical conveyer past several different detectors in order to facilitate the sorting of the individual notes and the accumulation of data regarding each note fed through the machine. For example, a currency processing machine can perform the simple tasks of processing a stack of currency in order to ensure that it is all of one denomination with proper fitness characteristics while simultaneously counting the stack to confirm a previous accounting. A slightly more complex task of separating a stack of currency into individual denominations while simultaneously counting the currency can be accomplished as well.
On the more complex end of prior art currency processing machines, a stack of currency consisting of various denominations can be fed into the machine for a processing that results in the separation of each denomination, a rejection of any currency that does not meet fitness specifications, the identification of counterfeit bills, and the tracking of individual notes by serial number.
Current high-volume currency processing machines are loaded with one single stack of currency, identified to a single set of accounting parameters, before executing the sort process. For example, a stack of currency associated with a specific commercial deposit at a bank may be loaded at the beginning of the currency processing cycle. The currency is then fed into the currency processing machine and sorted based on the needs of the customer. Typically, notes are stacked according to denomination. In the U.S., for example, currency processing machines handle six primary denominations: $1, $5, $10, $20, $50, and $100 dollar bills. Though other less frequent denominations exist (e.g., $2), they are so few in number that they can be collected in a reject bin. In the U.S. approximately 80% of the notes handled by currency processors are $20 bills.
The goal of processing large batches of currency is to produce stacks that are organized according to denomination, with all of the notes in each stacked faced in the same direction. Currently, this process might require several passes through the machine. A primary goal within the banking and currency processing industry is to sort all notes within a load according to denomination and similar face orientation in one pass. This is primarily driven by the standards of many central banks, requiring commercial banks to return to the issuing authority banknotes faced and oriented.
When stacked for loading into a currency processor, notes are either faced up or faced down. As a general rule, the preference among banks is to stack and bind notes faced the same way. Therefore, two stacks are set up for each denomination, one for face up notes and another for faced down notes. In the case of $20 bills, four stacks are usually needed (two faced up, two faced down) because of the large processing volume typical for that denomination. Therefore, for U.S. currency processing machines there may be a total of 15 collection bins (four bins for the $20 bills, two each for the other five major denominations, and one reject bin which will collect odd denominations in addition to unfit bills).
There is growing pressure within the banking industry to reduce the footprint of currency processing machines as much as possible. The easiest way to accomplish this goal is to reduce the number of collection bins. However, doing so requires that all notes within a given denomination be faced the same way within each bin stack. Doing so could reduce the number of collection bins to eight (two for $20 bills, one for each of the other five denominations, and one reject bin). There is also pressure to increase efficiency. Being able to properly face notes during processing would reduce the time required by the second pass in half.
Therefore, there is a need within the industry to have a high speed currency processing machine that can ensure all notes within each denomination are faced in the same direction during processing.